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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: PeterR1700 who wrote (1321)	8/2/1998 8:15:00 PM
From: Zvi Yammer	Read Replies (2) \| Respond to of 2742

Is PMC really paying 75 cents per share??? Pasteur Merieux Connaught, the world's largest vaccine manufacturer and the leading U.S. flu vaccine producer, has also agreed to purchase 1.3 million Cistron common shares at $.75 per share and will obtain a three-year warrant to purchase a mutually agreeable number of shares which amount, together with the purchased shares, is anticipated to be above Cistron's $.48 per share book value at March 31, 1998. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< According to the release PMC will buy 1.3 million share at .75 cents However, they will also purchase additional stock The avg. of the shares and teh future shares be based on the .48 book value. To me this means that if they get 1.3 mill @ .75 then they need to get 1.3 million warrants at .21 so that they avg. .48. Can't be less could be more but, don't assume .75 means .75!!!